This is one my top picks in the crypto landscape that tries to solve a real problem in the APAC region. I probably wouldn't have posted this but SilverDoge can be convincing sometimes. It should be released shortly for withdrawal and on exchanges in early October. I think this is one to watch for. I've done a bit of analysis and research on this company and share the info below.

Everex is a fintech company that has developed blockchain technology over the past 2 years and now developing a product to speed up consumer banking. Their main focus is in two areas, MicroFinance and Remittance with a little Foreign exchange. Theres two parts to making this work and two types of tokens that they use, similar to NEO/GAS. The main one is EVX which is the primary token. CryptoCash is a secondary fiat pegged token that is used to transmit funds across borders or to other peers.

Banking is slow and tedious in that part of the world and limited to metropolitan areas. While many companies are going for decentralized everything, Everex is teaming with banks that want to improve customer experience that do not have the resources to develop blockchain tech inhouse. The goal for the team is to provide the backend for banks to speed up business processes, decrease cost, and allow more financial products access to a wider audience over mobile/desktop. Banks take care of KYC/AML in addition to financial regulations and provide specifications to meet compliance with Everex. This type of framework allows Everex the unique ability to provide whitelabel backend services for banks on blockchain that can be B2B, B2C, or B2B2C. In the region several banks do not have the infrastructure to support what western society considers normal banking. Since regulatory compliance is built in by the initial bank, banks do not have to build from scratch if using whitelabled wallets. Compliance is built in.

A little background on Everex. They currently have 4 active products in their portfolio and the main product people have seen but didn't know was made by Everex is Ethplorer.io. This tool is the default token explorer tool used by https://myetherwallet.com. Coinigy.io, Chronobank, Coinbooks, CoinTracking also use Everex products in their business. Chainy.info is being tested by RSK (Rootstock) for bridging Ethereum Smart Contract capability to Bitcoin testnet. Chainy.info is used as proof of existence and immutable short links on ethereum that places a permanent record of a file and location on the public blockchain. They are venture capital funded and part of the Bangkok Bank Innohub accelerator program. Their service caters to South East Asia with targets in Microfinance (Small business owners), Remittance(Migrant workers), and Tourists/Expats(FX Exchange), using a multi-feature wallet.

A little more about EVX token, the token when used with the Everex Wallet unlocks some microfinance features like using EVX as collateral for micro loans. You can borrow against it, like a pawn shop, and when paid back are rewarded with additional EVX tokens to improve your ‘credit line’. CryptoCash or EverCash depending which name they decide is what banks will handle, $1 is equivalent to $1 USDEX and can be transmitted to merchants who accept it or across borders at the speed of blockchain. Think of Tether with more usable features. Some other capabilities down the line is micro lending where you stake EVX for someone to borrow against and earn interest. In summary the bank is the smart contract and the Ethereum blockchain. Users of this EVX/EverCash, should see lower interest fees for loans. Users are also incentivized to save and repay loans to improve their rating and score. A portion of the net profit from interest and fee’s collected by Everex will go to quarterly reverse ico where tokens are purchased at market rate for use back in Everex wallets.

Yes, quite interesting. But let's assume I don't intend to use EVX tokens to do my banking if/when that becomes possible, but rather looking at it with a crypto investor's eye. Is it a more sophisticated Tether that is always worth around $1, or does it have value-growth potential like BTC, ETH, etc. I assume you're in it at least partly for that potential.

Long John wrote:Yes, quite interesting. But let's assume I don't intend to use EVX tokens to do my banking if/when that becomes possible, but rather looking at it with a crypto investor's eye. Is it a more sophisticated Tether that is always worth around $1, or does it have value-growth potential like BTC, ETH, etc. I assume you're in it at least partly for that potential.

There's two different types of tokens. The wallet operates with EverCash/CryptoCash which is the fiat pegged token. This is separate and part of the relationships with the banks. When the bank is partnered, the bank will guarantee the amount of CryptoCash in a 1:1 conversion. This is separate from the EVX token. The CryptoCash will always be 1:1. The EVX token will be tradable and rise and fall. Since you don't have to sell EVX to get liquidity that is what can be a driver of growth. ie: you own $1000 evx tokens you can take $800 out use it payback $820 and keep your tokens. This is different than BTC/ETH because when you liquidate, its gone as an asset. This microloan is a way to protect your interest for a nominal fee. So you don't have to sell EVX, pay 2-6% interest or whatever amount, the more you own/the longer the history the lower your interest rate. You don't actually have to sell. You pay the % to keep the interest to a smart contract. That % profit goes back into the ecosystem and evx holders. People who default, lose their evx. The main risk is if EVX dumps and loans are valued higher than EVX. It would be easier to not pay it back. If you default and the price rises, your interest goes up or you have to start over with a high interest rate again.

One other thing i will add, total supply is ~25M, circulating supply is ~16 million tokens a drop in the bucket compared to a lot of other tokens. This limited circulating supply + the type of people borrowing (expats, small biz, etc) it opens a line of credit that's backed. As it gets paid back, white label, fee's and interest rates go to everex and a portion goes to buy back at market rate quarterly. This should strengthen as time goes on. If it catches on in ASEAN market, people will buy it to hold as an asset to borrow against if banks offer liquidity. win/win IMO. This should put positive pressure on the price at least i hope it does!

silverpv wrote:The EVX token will be tradable and rise and fall. Since you don't have to sell EVX to get liquidity that is what can be a driver of growth. ie: you own $1000 evx tokens you can take $800 out use it payback $820 and keep your tokens. This is different than BTC/ETH because when you liquidate, its gone as an asset. This microloan is a way to protect your interest for a nominal fee. So you don't have to sell EVX, pay 2-6% interest or whatever amount, the more you own/the longer the history the lower your interest rate. You don't actually have to sell. You pay the % to keep the interest to a smart contract. That % profit goes back into the ecosystem and evx holders. People who default, lose their evx. The main risk is if EVX dumps and loans are valued higher than EVX. It would be easier to not pay it back. If you default and the price rises, your interest goes up or you have to start over with a high interest rate again.

I can't say I have a good handle on how to "play" this market, but it sounds intriguing.

Long term hold here. I have found I suck at trading. This one was never sexy and didn't sell out immediately. This is more like an actual business model. Not sure how this is gonna be for trading in n out.

Long vs. short, the philosophical question. For me "long" is a few months rather than a few years. Reason: This market is evolving so fast, if my "long" coin is hoped to hit big in a couple years, won't there be 3 other coins that improved on the formula and entered the same space in the meantime? Do I have to buy all those too? The landscape is shifting too fast for me to be "long" on new projects at this point. Like I said, a philosophical difference, and I am fully aware that those who disagree with me may well be rolling in riches down the road, while I wished I had followed their lead. Go EVX!

Long John wrote:Long vs. short, the philosophical question. For me "long" is a few months rather than a few years. Reason: This market is evolving so fast, if my "long" coin is hoped to hit big in a couple years, won't there be 3 other coins that improved on the formula and entered the same space in the meantime? Do I have to buy all those too? The landscape is shifting too fast for me to be "long" on new projects at this point. Like I said, a philosophical difference, and I am fully aware that those who disagree with me may well be rolling in riches down the road, while I wished I had followed their lead. Go EVX!

I've had my share of clunkers, mostly other people's bandwagons but a couple of my own too. That is, they remained clunkers beyond the limit of my patience, I think at least one of them subsequently proved me a weak hand. I just don't talk about those. Neo and Ethereum and PIVX, plus the BTC/USDT trades, kept me afloat. But no denying things were looking grim in the depths of the last two big crashes. Hopefully all this volatility will have worked itself out by the time your Everex comes into its own.

The Everex token is under lockup for 7 days then it'll start trading on platforms like EtherDelta. The list of potential exchanges are here... There's also discussion of getting it listed on Binance. The announcement should come out when the tokens are released to which tokens will list.

Two top Smart Contract auditors in Switzerland and Korea pass EVX.

“I’m very pleased to say that we found no issues with the contracts,” said Yo Kwon of Hosho Group. “This is one of the best written contracts we’ve encountered to date.”

They've released the security audit and it turns out their new Smart Contract has a host of core application logic for their microlending product. Specifically pausing accounts, freezing assets, and moderator control to remove collateral. Once they tie this in to a new interface it should be pretty nifty. Hope it looks good.

It had a rough start with bounties and bonus dumpers dropping out but that made for an opportunity. I picked up a good amount at .0033 ETH at just under $1. and its sitting at $1.7-$1.8 right around ICO price. Keep an eye on it.

It had a rough start with bounties and bonus dumpers dropping out but that made for an opportunity. I picked up a good amount at .0033 ETH at just under $1. and its sitting at $1.7-$1.8 right around ICO price. Keep an eye on it.

It's released to

EtherDelta has the highest volume

That is a good start Was the 0.0033 first teir pr sale?I have last tie at 1.9 USD = 0.00657769 ETH